Canara Bank raises ₹3,500 crore via tier I bonds

Canara Bank has successfully raised ₹3,500 crore through the issuance of Basel III compliant additional tier I bonds, series I. The bonds, with an ISIN of INE476A08266, are unsecured, subordinated, listed, rated, non-convertible, perpetual, fully-paid-up, and taxable debentures, each valued at ₹1 crore. The issue closed on November 28, 2025, with the date of allotment set for December 2, 2025.

The issue size comprises a base of ₹1,000 crore plus a green shoe option of ₹2,500 crore, totaling ₹3,500 crore. The bonds carry a coupon rate of 7.55% and interest will be paid annually on December 2nd every year. A total of 3,500 bonds were accepted, with 37 allottees participating in the offering.

The perpetual bonds are proposed to be listed on the National Stock Exchange (NSE), further enhancing their liquidity and accessibility for investors. This capital raise is in compliance with SEBI (LODR) Regulations, 2015.